I know licensed guys whom are actually not good tradesmen but excellent GC's in that they understand how things work and are good managers. so yeah, it can't hurt and just like real estate if one is willing to learn it could really be an asset. in many states a homeowner can pull permits so it really isn't that necessary for that.

Once obtaining the license you get your money back from those who will sponsor your schooling after 1st transaction.

If not, you need to consider the time involved with obtaining estimates, reviews, scheduling, providing access, handling issues that come up (like new water heater required  we remove the entire door and frame for access as they are wider now).   

I immediately obtained a $2M umbrella liability policy. 

Is it worth the lawyer's time to chase after your bank account and other assets. 

Cost segregation typically increases your cash flow by approximately 3-8% of the total cost of the real estate assets. 

Rural and low quality type assets is a tough nut.Only local banks and credit unions in the immediate area would likely look at this.

@JEFF D. wish I could be more helpful to you, I have bought and sold 2500+ units and never had to do a Phase 2.As you finish out your due diligence period, and assuming you will sell this asset at a future date, a Phase 2 could limit the number of buyers in the future so give this 12 unit deal a real close look to ensure it is a solid deal.Good luck!!

Have your agent let them know you're very interested in the property and offer a NDA in order to obtain the necessary information to analyze the property for purchase.

Factor obtaining possession into your numbers.Fourth, if nobody else is interested or bidding... why is that?